1. PPL's Q1 2025 earnings reached $414 million, up 35% from last year. 2. Earnings per share increased to $0.56 from $0.42 in Q1 2024. 3. Ongoing operations earnings rose 10% to $444 million, reflecting operational efficiency. 4. PPL reaffirms 2025 EPS forecast at $1.75 to $1.87 per share. 5. Company expects 6-8% annual EPS and dividend growth through 2028.
Strong earnings growth indicates sound operational performance and revenue stability.
The earnings report reflects robust growth and positive future projections, improving investor confidence.
Sustained earnings growth and positive forecasts may attract long-term investors.
ALLENTOWN, Pa., April 30, 2025 /PRNewswire/ -- PPL Corporation (NYSE: PPL) today announced first-quarter 2025 reported earnings (GAAP) of $414 million, or $0.56 per share, compared with first-quarter 2024 reported earnings of $307 million, or $0.42 per share.
Adjusting for special items, first-quarter 2025 earnings from ongoing operations (non-GAAP) were $444 million, or $0.60 per share, compared with $402 million, or $0.54 per share, a year ago.
"We're off to a strong start in 2025, with year-over-year growth in the first quarter reflecting our continued strong financial discipline and operational execution, along with a return to more typical seasonal weather patterns," said PPL President and Chief Executive Officer Vincent Sorgi.
"Across PPL, we're focused on creating utilities of the future and leveraging technology, talent and strategic partnerships to modernize our energy networks, better meet the evolving needs of our customers, and deliver increased value for all stakeholders.
Looking forward, we're well-positioned to build on this success throughout the year, and sustained strong interest from data center developers in Pennsylvania and Kentucky further highlights the critical role we continue to play in powering progress and innovation."
Today the company reaffirmed its 2025 ongoing earnings forecast range of $1.75 to $1.87 per share with a midpoint of $1.81 per share.
In addition, the company reaffirmed its projection of 6% to 8% annual earnings per share (EPS) and dividend growth through at least 2028, with EPS growth expected to be in the top half of the targeted range. The company's projected growth is based off its 2025 forecast midpoint of $1.81 per share.
As discussed in this news release, reported earnings are calculated in accordance with U.S. Generally Accepted Accounting Principles (GAAP). "Earnings from ongoing operations" is a non-GAAP financial measure that is adjusted for special items.
| (Dollars in millions, except for per share amounts) | 1st Quarter | 2025 | 2024 | Change |
|---|---|---|---|---|
| Reported earnings | $ 414 | $ 307 | 35 % | |
| Reported earnings per share | $ 0.56 | $ 0.42 | 33 % | |
| Earnings from ongoing operations | $ 444 | $ 402 | 10 % | |
| Earnings from ongoing operations per share | $ 0.60 | $ 0.54 | 11 % |
In addition to the segment drivers outlined below, PPL's reported earnings in the first quarter of 2025 included net special item after-tax charges of $30 million, or $0.04 per share, primarily attributable to PPL's IT transformation, a Rhode Island Energy settlement related to an energy efficiency program matter, and integration and related expenses associated with the acquisition of Rhode Island Energy. Reported earnings in the first quarter of 2024 included net special item after-tax charges of $95 million, or $0.12 per share.
PPL Corporation (NYSE: PPL), headquartered in Allentown, Pennsylvania, is a leading U.S. energy company focused on providing electricity and natural gas safely, reliably and affordably to more than 3.6 million customers in the U.S. PPL's high-performing, award-winning utilities are addressing energy challenges by building smarter, more resilient and dynamic power grids and advancing sustainable energy solutions. For more information, visit www.pplweb.com.
PPL invites interested parties to listen to a live internet webcast of management's teleconference with financial analysts about first-quarter 2025 financial results at 11 a.m. Eastern time on Wednesday, April 30. The call will be webcast live, in audio format, together with slides of the presentation. A replay with slides will be accessible at www.pplweb.com/investors for 90 days after the call.
Interested parties can access the live conference call via telephone at 1-844-512-2926. International participants should call 1-412-317-6300. Participants will need to enter the following "Elite Entry" number to join the conference: 9677002.